"This sets a record for one of the highest prices ever paid on a square-foot basis for the sale of an office building in the state of Florida," Ted Gibbons, president, Investment Realty Advisors Inc. of Boca and Bellevue, WA tells GlobeSt.com. Gibbons introduced the parties in the transaction.
The building at One North Federal Highway is 100%-leased to Wachovia Bank. Gibbons was under a confidentiality clause that barred disclosure of lease details.
The seller was Penn Florida Realty Corp. of Boca Raton, headed by John Lawrence and managing partner Mark A Gensheimer, both actively involved in redeveloping Boca's Downtown corporate sector.
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